Spyker Cars N.V. has finalized the deal with General Motors to purchase Saab Automobile AB. Saab Automobile and Spyker Cars will operate as sister companies under the umbrella of the Amsterdam Euronext listed parent company Spyker Cars N.V. (Ticker symbol: SPYKR). This transaction secures the future of Saab Automobile.
Jan Ake Jonsson, CEO of Saab Automobile AB said: "Today's announcement is great for Saab's customers, dealers, suppliers and employees around the globe, the level of passion and support shown to Saab over recent months has been remarkable and this does bode well for the future. Now we aim to get back to the execution of our business plan, starting with the introduction of the new 9-5 later this year, and with the continued support of our employees and business partners I am confident we will succeed."
Showing posts with label spyker. Show all posts
Showing posts with label spyker. Show all posts
Tuesday, February 23, 2010
Friday, December 18, 2009
Saab Winding Down Operations After Spyker Sale Fails
General Motors will start an orderly wind-down of Saab operations after GM failed to complete a sale transaction with Dutch car builder Spyker Cars. Spyker said that during the due diligence, certain issues arose that both parties believe cannot be resolved prior to the December 31st deadline set by GM. Spyker became involved in acquiring Saab after the withdrawal of Koenigsegg Group AB last month.
GM says it "expects Saab to satisfy debts including supplier payments, and to wind down production and the distribution channel in an orderly manner while looking after our customers. Saab will continue to honor warranties, while providing service and spare parts to current Saab owners around the world."
Last week, Saab Automobile AB announced that it had closed on the sale of certain Saab 9-3, current 9-5 and powertrain technology and tooling to Beijing Automotive Industry Holdings Co. Ltd.
BMW Is Favorite To Gain Saab Buyers - AutoTrader.com
With the announcement today that GM will shutter its Saab division, BMW may be a winner, according to cross-shopping data from AutoTrader.com. Thirty-three percent of Saab shoppers also looked at BMW vehicles while researching and comparing new and used vehicles on AutoTrader.com, a larger percentage than looked at any other brand.
31% of Saab shoppers also looked at Audi models listed for sale on AutoTrader.com. 29% looked at Volvo, 27% at VW and Toyota, 24% at Honda and Mercedes-Benz, 23% at Ford and 22% at Chevrolet. Having said that, Saab's year-to-date 2009 sales in the U.S. through November stands at 7,812, a 61.3% drop from 2008, so when that kind of low volume is scattered around, will it really make a difference?
In other GM news, the company says it will begin loan repayments to the U.S. and Canadian and Ontario governments, paying $1.0 billion to the U.S. Treasury and $192 million to Export Development Canada.
GM says it "expects Saab to satisfy debts including supplier payments, and to wind down production and the distribution channel in an orderly manner while looking after our customers. Saab will continue to honor warranties, while providing service and spare parts to current Saab owners around the world."
Last week, Saab Automobile AB announced that it had closed on the sale of certain Saab 9-3, current 9-5 and powertrain technology and tooling to Beijing Automotive Industry Holdings Co. Ltd.
BMW Is Favorite To Gain Saab Buyers - AutoTrader.com
With the announcement today that GM will shutter its Saab division, BMW may be a winner, according to cross-shopping data from AutoTrader.com. Thirty-three percent of Saab shoppers also looked at BMW vehicles while researching and comparing new and used vehicles on AutoTrader.com, a larger percentage than looked at any other brand.
31% of Saab shoppers also looked at Audi models listed for sale on AutoTrader.com. 29% looked at Volvo, 27% at VW and Toyota, 24% at Honda and Mercedes-Benz, 23% at Ford and 22% at Chevrolet. Having said that, Saab's year-to-date 2009 sales in the U.S. through November stands at 7,812, a 61.3% drop from 2008, so when that kind of low volume is scattered around, will it really make a difference?
In other GM news, the company says it will begin loan repayments to the U.S. and Canadian and Ontario governments, paying $1.0 billion to the U.S. Treasury and $192 million to Export Development Canada.
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